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The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of February. At the national level, the number of dwelling approvals surged by a seasonally adjusted 19.9% to 15,698. The overall jump in approvals was driven by units & apartments, which rocketed by 61.7%.
Over the year, dwelling approvals fell 5.8%, with unit & apartment approvals falling 7.9% and house approvals falling by 4.9%:
A chart showing the time series of seasonally-adjusted dwelling approvals at the national level is provided below, split-out by detached houses and units & apartments:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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